Title: Welcome Back to The Station: Updates on Mobility, Transportation, and the EV Landscape
Introduction:
Welcome back to The Station, your go-to source for updates on all things mobility, transportation, and the electric vehicle (EV) landscape. In this edition, we’ll discuss recent developments in the auto industry, Lime’s potential IPO plans, and other noteworthy news in the world of sustainable transportation. Let’s dive in!
1. Historic Moment in the Auto Industry:
On Thursday night, the United Auto Workers initiated an attack on the three major American automakers, GM, Ford, and North American Stellantis (Chrysler), after failed negotiations. Although not all facilities were immediately affected, specific locations witnessed picketing. As a result, GM announced the temporary shutdown of its Fairfax assembly plant in Kansas due to a shortage of stampings made at the Missouri factory where workers are on strike. Additionally, Ford issued temporary layoffs to 600 workers at its Michigan assembly plant near Detroit.
2. Lime Considers Going Public:
Micromobility company Lime has achieved an impressive adjusted EBITDA profitability of $27 million in the first half of 2023 and is on track for free cash flow positivity this year. Encouraged by market sentiment improvement and other startups seeking IPOs, Lime is finally considering going public. CEO Wayne Ting expressed the company’s readiness to seize the opportunity and take Lime public as soon as the market allows.
3. The Global EV Landscape:
While Lime contemplates its IPO plans, the EV industry continues to witness substantial investments and advancements. French battery company Verkor secured over €2 billion ($2.15 billion) to accelerate the construction of its Dunkirk gigafactory. Battery startups like Lyten also raised significant funding, with Lyten recently announcing a $200 million Series B round led by Prime Movers Laboratories.
4. Developments in Sustainable Transportation:
Notable updates in the realm of sustainable transportation include Germany reconsidering its stance on electric scooters on the streets, the introduction of a battery and lithium-ion exchange program in New York, and various investments in the electric bicycle and electric vehicle technology sectors.
5. Turo’s Potential IPO:
Car-sharing platform Turo may be gearing up for an initial public offering (IPO), according to anonymous sources. The company had previously filed its intention to go public in January 2022 but had to postpone due to economic conditions. With renewed interest in IPOs, Turo might finally make its debut in the stock market.
6. Autonomous Vehicles and Regulatory Landscape:
The California Senate passed a bill requiring a trained life safety operator to be present whenever heavy autonomous vehicles operate on public roads, potentially banning driverless AV trucks. Cruise, in collaboration with GM, revealed a prototype of a custom-made autonomous robotaxi called Cruise WAV, designed to be wheelchair accessible. San Francisco requested regulators to review robotaxi permits for Cruise and Waymo in an effort to ensure compliance with safety regulations.
7. Electric Vehicles, Charging, and Batteries:
Canoo, an electric vehicle manufacturer, is facing delisting from public markets due to its low share price and is requesting to transfer to the Nasdaq Capital Market. Other noteworthy developments include discussions of punitive tariffs on Chinese imports of electric vehicles and Rivian’s plans for hardware upgrades to reduce costs.
9. Gig Economy in the Transportation Sector:
Lyft introduced a new feature called “Women+ Connect” in select US cities, allowing women and non-binary drivers to set a preference for picking up only female passengers. This feature aims to attract more female drivers to the app, as they currently represent around 23% of Lyft’s drivers.
Conclusion:
The mobility and transportation landscape continues to evolve with significant developments in the auto industry, Lime’s IPO plans, advancements in the EV sector, and regulatory changes in the autonomous vehicle space. Additionally, efforts to promote sustainability and inclusivity in transportation, such as Turo’s potential IPO and Lyft’s Women+ Connect feature, are shaping the future of the gig economy. Stay tuned for more updates as we navigate the exciting world of sustainable mobility.
Engaging Additional Piece: Rethinking Urban Transport: The Rise of Micro-Mobility and Shared Mobility Services
Introduction:
As we witness the evolution of transportation, urban dwellers are seeking alternatives to traditional modes of commuting. One promising solution to tackle congestion, reduce carbon emissions, and enhance last-mile connectivity is the rise of micro-mobility and shared mobility services. Let’s take a closer look at how these innovative modes of transport are transforming cities worldwide.
1. Micro-Mobility Revolution:
Micro-mobility refers to compact, lightweight transportation options, such as e-scooters, e-bikes, and shared bicycles, that provide convenient and sustainable alternatives for short-distance travel. This cost-effective and eco-friendly mode of transportation enables individuals to cover short distances faster and easier while reducing reliance on private cars.
2. Shared Mobility Services:
Shared mobility services, including ridesharing, carpooling, and bike-sharing, are reshaping urban transport. By leveraging digital platforms and smartphone applications, these services provide users with flexible transportation options, reducing the need for private vehicle ownership and ultimately alleviating traffic congestion.
3. Benefits of Micro-Mobility and Shared Mobility:
The integration of micro-mobility and shared mobility services offers several advantages. Firstly, it provides users with more affordable transportation options, as these services often have lower costs compared to traditional modes of transport. Secondly, it contributes to reducing traffic congestion and carbon emissions, fostering cleaner and greener cities. Lastly, it promotes a healthier and more active lifestyle, as micro-mobility options encourage physical activity by making cycling and scooting more accessible.
4. Overcoming Challenges and Promoting Sustainability:
While micro-mobility and shared mobility services have gained popularity, there are still challenges that need to be addressed. These include ensuring infrastructure improvements to accommodate these modes of transport, implementing regulations to ensure the safety of riders, and finding sustainable business models that align with city governments’ objectives.
Conclusion:
The integration of micro-mobility and shared mobility services is revolutionizing urban transportation, providing sustainable and convenient options for short-distance travel. By embracing these innovative solutions, cities can effectively address congestion, reduce carbon emissions, and enhance overall mobility. As technology continues to advance and urban populations grow, it is crucial to prioritize and invest in sustainable mobility solutions that make our cities more livable and environmentally friendly.
Note: The engaging additional piece delves deeper into the broader concept of micro-mobility and shared mobility services, expanding on the original content and providing unique insights into the transformation of urban transportation.
—————————————————-
| Article | Link |
|---|---|
| UK Artful Impressions | Premiere Etsy Store |
| Sponsored Content | View |
| 90’s Rock Band Review | View |
| Ted Lasso’s MacBook Guide | View |
| Nature’s Secret to More Energy | View |
| Ancient Recipe for Weight Loss | View |
| MacBook Air i3 vs i5 | View |
| You Need a VPN in 2023 – Liberty Shield | View |
Welcome back to The Station, your one-stop shop for all past, present and future means of moving people and packages from point A to point B.
I’ll be at the center of the startup universe next week. Where is that, you say? Disrupt 2023 In San Francisco, of course. I hope to see you all there!
A historic moment occurred Thursday night when the United Auto Workers decided attack on the three major American automakers (GM, Ford and North American Stellantis (known as Chrysler)) after both parties failed to reach an agreement.
Workers did not strike at all facilities at once, but instead picketed specific locations for now. This is a fluid situation and there have already been some repercussions. GM said it expects to shut down its Fairfax assembly plant in Kansas because of a shortage of stampings made at the Missouri factory where workers are on strike. Ford also issued temporary layoffs to 600 workers at its Michigan assembly plant near Detroit.
Do you want to send us a tip, comment or complaint? Email Kirsten at kirsten.korosec@techcrunch.com.
Reminder that you can send us a note to tips@techcrunch.com. If you prefer to remain anonymous, Click here to contact uswhich includes SecureDrop (instructions here) and various encrypted messaging applications.
Micromobbing
Lime once again promoted his earning capacity in the relentless scooter game this week, and I once again wished the company would show me its balance sheets so I could back up those claims.
And maybe soon I’ll be able to look behind the curtain. Coupled with the news that Lime had achieved an impressive adjusted EBITDA profitability of $27 million in the first half of 2023 ($20.6 million unadjusted) and is on track for free cash flow positivity in 2023, Lime said it is finally considering going public.
Lime has been hinting at plans to go public for years, but market forces like a pandemic and an economic downturn have thwarted the company’s path. Now it appears that market sentiment is improving, with many other startups seeking IPOs in 2023 and beyond.
“If the market reacts well and as more companies leave [with IPOs]”We have the economics, the growth and the profitability to take Lime public, hopefully as soon as the market allows,” CEO Wayne Ting told TechCrunch.
In other news . . .
Germany seems to be reflecting on whether he wants scooters in their streets – just a couple of weeks after Paris’ ban on shared electric scooters came into effect.
sling has a new electric scooter called compact motorcyclewhich has an aesthetic that editor-in-chief Darrell Etherington describes as “irresistible, heartbreakingly silly and lovable.”
NY voted to establish a exchange program That will make it easier for New Yorkers to swap out their aftermarket e-bikes and lithium-ion batteries for ones that meet industry safety standards, either for free or at low cost.
Offer of the week
Battery companies continue to get absolutely crazy amounts of money from investors and governments.
Carry Verkor, the Renault-backed French battery company that produces cylindrical and pouch battery modules for electric vehicles and energy storage sites. The company said it assured “more than 2 billion euros” ($2.1 billion) to accelerate the construction of its Dunkirk gigafactory. Yes, you read that right.
The huge sum includes an €850 million Series C financing round, as well as €600 million in loans from the EU’s European Investment Bank. The $2.15 billion figure also includes €650 million in French subsidies yet to be approved, pending final approval from the European Commission. Macquarie, French infrastructure investor Meridiam and Renault participated in the Series C round.
As TechCrunch reporter Harri Weber points out, this surprising round follows other sizable raises by battery startups, including Lytenwho announced this week that his raised 200 million dollars in a round of Serie B. That round was led by Prime Mover Laboratoriesa venture firm from OpenGov co-founder Dakin Sloss and included investments from Stellantis, FedEx and Honeywell.
Other offers that caught my attention. . .
Dancethe German startup that offers electric bicycles and mopeds through subscription packages, added a handful of investors to complement its recent €12 million funding round and said it now has 10,000 active and paying members.
Evolutionaryan electric vehicle technology company based in Long Beach, California, raised $15 million of Seismic Capital.
colorsa Mexico City-based startup that connects intercity bus passengers with bus drivers, acquired B2B van-sharing provider Urbvan for $12 million in cash.
Rollickthe car subscription startup from Spain, raised 115 million euros ($123 million). The financing is a combination of debt and equity: €100 million is structured financing aimed at developing the automobile network and €15 million is capital invested in the business itself. Investors include KKR, Santander Consumer Finance and others not mentioned.
TuróPeer-to-peer car-sharing company perhaps gearing up for IPO roadshow, if ever last presentation is some indication and if a Bloomberg report It is believed that anonymous sources are cited. But don’t hold your breath. We have been here before. The company first filed its S-1 (intentions to go public) in January 2022, and repeatedly put a stop to those plans while waiting for better economic conditions. Is now the time?
Notable readings and other tidbits
autonomous vehicles
He California Senate passed a bill requiring a trained life safety operator to be present whenever a heavy, autonomous vehicle operates on the state’s public roads, effectively ban driverless AV trucks. The bill, AB 316, is now on Governor Gavin Newsom’s desk.
Cruise revealed a prototype of a custom-made model, wheelchair accessible, autonomous robotaxi and said closed-loop testing of the driverless vehicle would begin in October. The vehicle, called Cruise WAV, is the result of three years of design, development and product testing by Cruise and GM, along with project partners BraunAbility and Q’Straint.
San Francisco formally requested that state regulators redo an August hearing which expanded robotaxi permits for Cruise and Waymo.
Electric vehicles, charging and batteries.
canoo Well, it’s not doing very well in the land of public markets. TO presentation on friday shows that the company has requested a transfer to the Nasdaq Capital Market, a tier for early-stage companies with low market capitalization. Because? Canoo has faced delisting because its share price is too low.
The new Elon Musk Walter Isaacson’s biography contained many interesting facts about Tesla, including an image of a compact two-door, two-seat Cybertruck-type. robotaxi concept.
He European Comission is considering imposing punitive tariffs to protect European Union carmakers against cheaper products. Chinese imports of electric vehicleswhich according to the agency benefits from state subsidies.
rivian CEO RJ Scaringe discussed in an interview at the Morgan Stanley Laguna Conference how a hardware upgrade to its R1 vehicles (improvements to be implemented next year) will reduce costs. One of the greater rewards will come from the review of the architecture of the electronic control unit.
tesla is planning to almost double its component sourcing from India to 1.9 billion dollars this yearaccording to the country’s Minister of Commerce.
Gig economy
Lyft launched a new feature in five US cities, including Chicago and San Francisco, that allows women and non-binary drivers to set a preference for picking up only female cyclists. The preference feature, called Women+ Connect, could help Lyft attract more female drivers to the app, which today represents about 23%.
technology in the car
Google announced that vehicles with Google integrated, starting with Polestar 2 and select Volvo cars, will now have Amazon Prime Video. The company also launched new apps on its Android Auto product, including Zoom and Cisco’s Webex for audio-only conference calls.
Get your pass for TC Disrupt 2023
We’ll be covering all things sustainable mobility at TechCrunch Disrupt 2023, taking place in San Francisco from September 19-21. Last minute passes are still available. Save 15% with code ESTACION. Register now!
An autoworkers strike trifecta and another speed bump for Cruise and Waymo
—————————————————-